Betpol, PBG subsidiary, to build a wind farm
Over EUR 15.4m (PLN 64m, VAT-excclusive) is the value of a contract for construction of a 10 MW Wicko Wind Farm executed by Betpol, a PBG subsidiary.
Betpol, in which PBG holds a 70% interest, signed a contract for construction of the Wicko Wind Farm in the Lębork County of the Province of Gdańsk. The scope of the contract includes earthworks, laying foundations, as well as delivery, assembly and start-up of five complete 2 MW wind turbines. The value of the contract exceeds EUR 15.4m or PLN 64m (VAT exclusive). The principal is Szelf, a privately-owned company. The project is co-financed by the European Union under the Infrastructure and Environment Operational Programme for 2007–2013 (Measure 9.4: Energy production from renewable sources). Betpol is to complete the project within ten months.
"So far we have specialised in road construction. This contract is a successful development in our endeavours to identify new revenue sources in the private sector, and its execution will enable us to enter the power engineering market and gain relevant experience," says Grażyna Wrukowska, Betpol's CEO.
The new contract is also in line with the PBG Group's strategy, whose pillars include focusing on projects in the power sector. The aggregate value of the Group's order book in the power sector totalled over PLN 1.9bn as at January 1st 2012.
Betpol joined the PBG Group in 2008. In 2010, the company's revenue exceeded PLN 100m for the first time in Betpol's history.
*The PBG Group provides specialist construction services in the area of gas/oil production and fuel facilities, as well as general contractor services in the power, infrastructural, industrial, road and housing construction segments.
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